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Latest GDP figures
25/01/2012
Commenting on figures that show the UK economy shrank by 0.2 per cent UK GDP in Q4, Finance Secretary John Swinney said:
"It is concerning that the latest GDP for the UK is even worse than the 0.1 per cent fall forecast by the Office for Budget Responsibility in the autumn. This demonstrates the urgent need for further sustained activity to support Scotland’s economic recovery. We are using all available powers to stimulate growth and job creation in Scotland and we still have higher employment and lower economic inactivity rates compared to the UK as a whole.
"But we need the UK Government to follow our Scottish example and embrace a ‘Plan MacB’ approach for the UK economy and bring forward capital investment to support growth and jobs.
"We also urgently need to hold the jobs summit of the four finance Ministers that we have called for, and the Chief Secretary to the Treasury has now agreed to, to set in train a programme of immediate employment creation. More needs to be done to strengthen recovery, and with control of all the economic and financial levers, the Scottish Government could do even more maximise our economic potential, boost competitiveness and create jobs."